Exploration

Endomines runs the exploration for gold and industrialminerals in Finland through the Finnish subsidiaries, Endomines Oy and Kalvinit Oy. The Company explores gold along the Karelian Gold Line in eastern Finland.

Endomines has decided to report the mineral resources according the Australian JORC code or the Canadian National Instrument (NI) 43-101. Swedish and Finnish organisations in mining industry, SveMin and FinnMin, support these standards. The Company has also chosen to make the mineral resources transparent through qualified, independent and international consultants who make the mineral and ore estimates with a standard, which is valid on the Canadian and Australian stock markets. The Company has chosen this strict strategy to increase the reliability in reported results considering the mineral resources and ore reserves. These are the foundation stones for the Company’s future plans. This also makes international comparisons with similar companies possible.

A mineral resource is a concentration of inorganic or fossil organic material in or on the Earth’s crust in such form, quality and quantity that it has reasonable chances of being economically extractable. Mineral resources are divided into ascending geological categories: inferred, indicated, and measured mineral resources. An inferred mineral resource is categorised lower than indicated and measured mineral resources.

Location, quantity, content, geological characteristics, and continuity of a mineral resource are identified, estimated, and/or interpreted on the basis of specific geological, geophysical, and geochemical surveys. The term”mineral resource” includes mineralisations and natural materials of actual economical interest that have been identified and estimated through exploring and sampling. The ore reserves (of mineral recources) can be defined by technical, economical, legal, environmental, socio-economic and societal factors.

”Reasonable prospects for economic extraction” means that the judgement of a qualified person as well as technical and economical factors effect on the chances of the economic extractability. A mineral resource is realistic inventory of mineralisation which might under realistically credible and justified technical, juridical and economical circumstances become economically extractable. These conditions must be introduced both in public and technical reports.

TGB drills with a 5½" reverse circulation (RC) rock drill in in Hosko.

Geological Survey of Finland’s test plant in Outokumpu, test beneficiation of the ilmenite from Koivu.